Early indications from the U.S. Futures Index signal that Wall Street might open on a lower note, potentially influenced by recent inflation data.
In the global markets, Asian stocks exhibited mixed results, whereas European shares are predominantly trading in positive territory. During the Asian trading session, gold prices remained largely stable, while oil prices continued their decline from the previous session as markets await the outcome of an OPEC+ meeting concerning possible supply cuts.
As of 7:50 AM ET, Dow futures had decreased by 33 points, S&P 500 futures were down by 8.50 points, and Nasdaq 100 futures had fallen by 53.50 points.
On Thursday, the major U.S. stock indices ended the trading session lower. The Dow Jones Industrial Average dropped by 330.06 points, or 0.9%, closing at 38,811.48. The Nasdaq Composite declined by 183.50 points, or 1.1%, to 16,737.08, while the S&P 500 fell by 31.47 points, or 0.6%, to 5,235.48.
On the economic calendar, several key reports are expected. The Chicago Purchasing Managers' Index (PMI) for May will be released at 9:45 AM ET, with a consensus estimate of 40.8, up from 37.9 in the previous month. The Baker Hughes Rig Count for the week will be published at 1:00 PM ET; last week, the North American rig count stood at 720, with the U.S. count at 600. Farm Prices for April are scheduled for release at 3:00 PM ET, following a 1.5% increase in March. Additionally, Personal Income and Outlays for April will be issued at 8:30 AM ET, with expectations set for a 0.3% rise, compared to a 0.5% increase in the previous month.
Atlanta Fed President Raphael Bostic is scheduled to give a commencement speech at Augusta Technical College at 6:15 PM ET.
Asian markets closed on a mixed note. China's Shanghai Composite Index edged down by 0.16% to 3,086.81, and Hong Kong's Hang Seng Index fell by 0.83% to 18,079.61. In contrast, Japanese markets surged, with the Nikkei 225 rising by 1.14% to 38,487.90 and the broader Topix Index climbing by 1.70% to 2,772.49. Australian markets also performed robustly, with the benchmark S&P/ASX 200 jumping by 0.96% to 7,701.70 and the broader All Ordinaries Index increasing by 0.95% to 7,970.80.
